Which of the Following Is Not Correct with Respect to Proprietary

Multiple Choice

Which of the following is not correct with respect to proprietary funds?

A) Proprietary funds are used to account for activities similar to those often engaged in by commercial businesses.
B) Users of goods or services are charged amounts at least sufficient to cover the costs of providing the goods or services. Thus, in the pure case, proprietary funds are self-supporting.
C) Budgets may be prepared for proprietary funds to facilitate management of fund activities, but GASB standards do not require budget-actual reporting.
D) Proprietary funds record only current financial resources and liabilities that will be settled with current financial resources.